Sonja is using the TVM Solver on her graphing calculator as shown below to
determine how much she has to invest now in a savings account earning
compound interest to have $15,100 in a certain number of years.
N=12
1%=2
PU
PMT=0
FU=15100
PY=1
CY=4
PMT EEN BEGIN
According to what Sonja has entered into the TVM Solver, with what
frequency will the interest in the savings account be compounded?
A. Monthly
B. Semiannually
c. Quarterly
D. Annually